Answered: The following information is available…

The following information is available for Yamaha Company for its first year of operations: Sales in units 5,000 Production in units 8,000 Manufacturing costs: Direct labor P3 per unit

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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A company reports the following information for the current year: Units Produced (25,000)< Units Sold (15,000), DM ($9 per unit), DL ($11 per unit), VOH (total $75,000) and FOH (total $137,500). If the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under absorption costing. O a. $80,500 O b. $122,500 c. $55,000 O d. $67,500
The following information has been extracted from the financial records of Gabriel Corporation for its first year of operations: Units produced 10,000 Units sold 7,000 Variable costs per unit: Direct material $8 Direct labor 9 Manufacturing overhead 3 SG&A 4 Fixed costs: Manufacturing overhead P70,000 SG&A 30,000 1. Refer to Gabriel Corporation. Based on absorption costing, what amount of period costs Gabriel Corporation deduct?
1)Learned Corporation has provided the following information:Cost perUnitCost per PeriodDirect materials $ 5.00Direct labor $ 4.25Variable manufacturing overhead $ 1.85Fixed manufacturing overhead $ 35,000Sales commissions $ 0.70Variable administrative expense $ 0.60Fixed selling and administrative expense $ 9100Required:a. For financial reporting purposes, what is the total amount of product costsincurred to make 7000 units?b. For financial reporting purposes, what is the total amount of period costsincurred to sell 7000 units?c. If the selling price is $23.80 per unit, what is the contribution margin per unitsold? (Round your answer to 2 decimal places.)d. If 8000 units are produced, what is the total amount of direct manufacturingcost incurred?e. If 8000 units are produced, what is the total amount of indirect manufacturingcosts incurred?a. Total product (manufacturing) costb. Total period (manufacturing) costc. Contribution margin per unitd. Total direct manufacturing coste. Total…
Kimber Company has the following unit costs for the current year: Raw materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit cost $20.00 25.00 10.00 15.00 $70.00 Fixed manufacturing cost is based on an annual activity level of 8,000 units. Based on these data, the total manufacturing cost expected to be incurred to manufacture 9,000 units in the current year is: Oa. $560,000. Ob. $615,000. Oc. $630,000. Od. $575,000.
HASF Corporation began operations at the beginning of the current year. one of the year company product a compressor sells for 370 per unit’s information related to the current year activities followsVariable cost per unitDirect material 40Direct labor 74Manufacturing overhead 96Annual fixed costManufacturing cost 1,200,000Selling and administrative 1,720,000Sales and productionSales in units 20,000Production 24,000Required -Cost of the December 31 finished goods inventoryNet income for the current year Dec 31If next year production decrease to 22,500 units and general cost behavior patterns do not change what is the likely effect on• The direct labor cost of 74 per units? why?• The fixed manufacturing overhead of 1,200,000? why?• The fixed selling and administrative cost of1,7200,000? why?• Per unit cost production why?
Compute conversion costs given the following data: direct materials, $353,800; direct labor, $206,900; factory overhead, $205,600 and selling expenses, $47,600. Oa. $559,400 Ob. $158,000 Oc. $412,500 Od. $766,300
Calif Corp provided the following information during the year 2024: Sales (1200 units)) Current year's production (1,500 units) Direct materials P720,000 P100/unit Direct Labor P200/unit Manufacturing overhead (505fixed; 50% 40% of directlabor variable) Selling, general and administrative expenses Fixed P80,000 P60,000 Variable Task - Determine the operating income and ending inventories under the following: 1. Full costing 2. Variable costing 3. Throughput costing
The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) Аpril $116,100 281,600 May 90,500 164,900 June 108,300 242,000 Using the high-low method, the variable cost per unit and the total fixed costs are Oa. $2.20 per unit and $5,415 Ob. $0.40 per unit and $27,074 Oc. $3.96 per unit and $5,415 Od. $0.22 per unit and $54,148
Q. In January, a company incurred a total product cost of $465,000, Conversion costs were 70% of overall product costs, while prime costs were 60% of overall product costs. How much are direct labor costs? ANS. $
b) Production and sales data of Industrial Detergents Ltd are given below: Production (liters) 70,000 Sales (liters) 55,000 nC udgeted financial data for activity level of 60,000 liters per period are as follOwS: Direct materials Cost per liter (¢) Direct labor 2. S0 3.00 Production overhead (200% of direct labor) 6.00 Total cost per liter 11.50 Selling price per liter 18.00 Administrative overheads are fixed at ¢100,000 per period and half of the production overheads are fixed. From the above information, prepare operating statements using marginal and absorplon principles.
The following information were obtained from the records of HILO Company: Production in units 8, 000 Manufacturing costs: Direct Materials P5 per unit Direct labor 3 per unit Variable overhead 1 per unit Fixed overhead total 100, 000 Sales price 40 per unit The operating profit under absorption costing is P30, 000 and the unit sales is 5,000. Questions: a. What is the amount profit/(loss) under absorption costing? (profit/loss) b. What is the total period expense recognized by the company if it used variable costing system? c. What is the total period costs under absorption costing ?
Compute conversion costs given the following data: direct materials, $363,200; direct labor, $204,600; factory overhead, $192,100 and selling expenses, $39,100. a. $555,300 b. $759,900 O c. $153,000 od. $396,700